Post by
Sjakkspill on Sep 30, 2019 8:34am
Dividend
From June 2015 until the last dividend in November 2018 GXO paid out roughly 46 million in dividends so if they hadn’t done that the company would be debt free now with a few million in the bank. The average WCS price through this period was USD $37 and currently it’s $42.50. Now with the dividend gone it’s not hard to see why the debt will be rapidly paid down as long as the price of oil doesn’t collapse of course. As Mike put it last I spoke with him “business is good”.
Comment by
TheBridge on Sep 30, 2019 2:02pm
Just wondering. If they haven't paid a dividend since November 2018 (that's close to a year now and Mike says "business is good", why hasn't the share price gone up in the last year?
Comment by
Sjakkspill on Oct 01, 2019 9:48am
Certainly not alone in taking hit on the share price over the last year due to a much unloved sector. Take your pick whether it be pipeline problems, fears of the differential going sky high again, increasing US production, recession fears, political uncertainty, etc. We’ll know more about how good business is when Q3 comes out in a few week.